Published on 8/8/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.5 million contingent coupon callable yield notes tied to indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – Credit Suisse AG, London Branch priced $2.5 million of contingent coupon callable yield notes due July 30, 2027 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 7.75% per year unless any index closes below its 60% coupon barrier on observation date that quarter.
The payout at maturity will be par unless any index finishes below its 60% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes will be callable at par on any contingent coupon payment date prior to maturity.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $2.5 million
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| Maturity: | July 30, 2027
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| Coupon: | 7.75% per year, payable quarterly unless any index closes below coupon barrier on observation date that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any index finishes below knock-in level, in which case 1% loss for each 1% decline of worst performing index
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| Call option: | At par on any contingent coupon payment date other than the maturity date
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| Initial levels: | 2,447.83 for S&P, 1,442.279 for Russell, 3,491.19 for Euro Stoxx
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| Coupon barriers: | 1,486.698 for S&P, 865.3674 for Russell, 2,094.714 for Euro Stoxx; 60% of initial levels
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| Knock-in levels: | 1,486.698 for S&P, 865.3674 for Russell, 2,094.714 for Euro Stoxx; 60% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 4.54%
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| Cusip: | 22550BCN1
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